Trade Desk CEO — Utah's Richest Person — Exits Mormon Church, Donates $600,000 To LGBTQ Rights Group

Trade Desk Inc TTD Chairman and CEO Jeff Green is donating $600,000 to an LGBTQ advocacy group after resigning from the Church of Jesus Christ of Latter-day Saints, also known as the Mormon church.

What Happened: Green wrote a letter to the president of the church, Russel Nelson, Monday saying he believes it has “hindered global progress in women’s rights, civil rights and racial equality, and LGBTQ+ rights,” reported The Salt Lake Tribune.

The technology entrepreneur also requested the removal of his records, as per the report.

“The church leadership is not honest about its history, its finances, and its advocacy,” wrote Green. 

Green said he would make a $600,000 donation to Equality Utah, which is the first major donation from his family foundation’s philanthropy arm Dataphilanthropy.

Why It Matters: Almost half of the donation would go towards a scholarship program for LGBTQ students in Utah including those who “may need or want to leave" Brigham Young University. The University, Green’s alma mater, is sponsored by the Mormon church, noted NBC News.

The University was in news last year for forbidding same-sex couples from dating, according to a Washington Post report.

Equality Utah said on Twitter Tuesday that they were “tremendously grateful” to Green for believing in their work.

Green hoped that the donation sends a public message that Equality Utah “isn’t going anywhere,” according to NBC News. He wrote that he hopes the donation is the first of many.

Equality Utah has managed to work with the Mormon church leaders and the Republican-controlled legislature to pass historic legislation despite political differences with both, noted NBC News.

Also on Tuesday, a large bullish stance was noted By Benzinga options scanner in the shares of Trade Desk.

Price Action: On Tuesday, Trade Desk shares closed nearly 6.2% higher at $93.53 in the regular session. The shares rose another almost 0.2% in the after-hours trading.

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